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Four Bedroom House (ref. 40977885)
Date & Time Listed: 2020-07-16 11:27:22 (GMT)
This large multi-family home is located on a nice street in Corlett and is five minutes to John Adams College, one of the leading schools in Cleveland. The property is divided into two large two bedroom apartments, you have a large three bedroom apartment upstairs and a large two bedroom apartment downstairs. Both apartments have good paying tenants already in place. The tenants upstairs are paying $675 in rent each month and the tenants downstairs are paying $625 in rent each month. The property is under management with Allstar, a very reputable management company with years of experience in Cleveland.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 9.6 miles from Downtown and 5.6 miles from University Circle. Also just 2 miles away you have Lee Harvard shopping centre. The property is also just five minutes to John Adams College, one of best schools in Cleveland..
Purchase price: 57,900
Gross annual rental income: $15,600
Property running costs: $3,060
(Tax, insurance and management costs)
Net annual rental income: $12,540
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 22%
Break even in 4.54 Years
This property is a Townhouse for sale.
Number of Bedrooms: 4
Number of Bathrooms: 2
Price: 57,900.00 USD
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